What happened to the Flood?
Tuesday, July 20, 2010
It was speculated many moons ago that Los Banos & surrounding areas were going to experience an influx of available new homes. Although the source of this information is reliable is hard to say what happened to that influx of new listings. In Los Banos we see many homes getting foreclosed on but no listed as REO or bank owned properties. Leave us to wonder, what is happening.
In May 2010 there were 358 active listings with 211 sold and 223 that went Pending. In june the active listing wet up 7.5% to 385 active listings and 276 Pending an increase of 23.8%.
The majority of this listings are not Bank Owned but they still are affordable and some in more than ready to move in condition. The seller whether an investor/investors or private sale provide clean homes with new interior paint and, if it needs it, new carpet or/and flooring.
Will we see another influx of REO homes? Only time will tell.